As a few enterprising users noticed yesterday in our "pre-flight" check, BlockTrades has been working for the past few weeks on adding support for Monero, a well-known privacy coin. Monero was a reasonably challenging coin to support, because like a number of innovative coins (e.g. Steem) it has it's own unique communication protocol that isn't a simple copy of the bitcoin RPC protocol.
Today I am happy to announce that you can now buy and sell Monero on our site. Of particular interest to Steemians, we offer both Steem and SBD trading pairs for buying and selling Monero, in addition to many other Monero trading pairs.
What coins do you plan to add next?
We don't have immediate plans to add any specific new coins. We are extremely choosy about the coins we support, in part because we usually plan to hold a significant quantity of each coin to handle large purchase orders from customers. We also have to make sure we have reliable pricing sources for the coin, and this is generally more difficult to obtain for newly released coins.
Another important criterion is that we currently don't list any coins that we are concerned might potentially be classed by the US securities commission as a security, because some of our customers are located in the US. In the future, we are considering offering additional coins to non-US customers who are willing to provide proof of foreign residence.
As a very informal poll, if you are a non-US citizen/resident, please feel free to leave a comment if you would/would not be willing to provide proof of foreign residence in exchange for the ability to trade additional coin types on our site.
What else are we working on?
For the past month or so we've been working on a web-based system for filing support requests, which I hope we'll be releasing next month. Also, for the past couple of weeks we've been working on an "affiliates" feature that will allow web site operators to easily embed our quick-trade service directly into their site. Stay tuned for more details!
You've certainly been busy!
I'd be up for that. UK born, living in England - passport and driver's licence.
Thanks for feedback, Michelle :-)
Why does Blocktrades take a lot of time to update current SBD/Steem price? It really hurts when the price is rised and wanted to withdraw.
We re-price very rapidly: within a couple of minutes at the max. But some customers have experienced confusion about bad pricing data provided by coinmarketcap.com related to SBD recently, and I would guess this is what led you to think our pricing wasn't being updated regularly. Here's an article that discusses the bad pricing on coinmarketcap (they were finally contacted and fixed their price problem):
https://steemit.com/sbd/@themarkymark/sbd-is-not-mooning
You're right, and I also wrote an article about it just a few hours ago. Thanks for support.
@blocktrades I sent you half a dollar yesterday by mistake as a new user:, (
Monero is a good one to support. As these privacy coins get pushed away, I hope they gain more and more third party support to offset the negative push by the governments. I will now be accumulating some Monero via SBD rewards. Thanks for all you do and I look forward to the ability to embed the quick trade service. Could busy incorporate this or Steemit if they wanted?
Yes, once the affiliate widget is ready, it should be very easy for any web site to incorporate it.
Thanks for providing an awesome service! It's truly changing how people can exchange value in an easy way.
nice!
That's cool you can trade on @blocktrades. I have little to trade right now but that's good to know. It get tiresome to find out what kind of wallets work and then your keys need to be secure etc...
In the last weeks many exchanges tried to get a banking licence or similiar and so they abondon privacy coins like XMR.
So its really nice to see that you care about privacy and implemented monero, I also think that you are the only one with Poloniex to offer a SBD/XMR trading pair on the market.
Good to know that last bit, ty.
hi @blocktrades, what about the possibility to pass an array for multiple output account?
cheers
You mean with a separate percentage of the output sent to each address? It's possible, of course, but it would increase the complexity of the user interface unless we were very careful about it.
How about an advanced mode for that? A button at the very bottom to switch between advanced mode and simple mode. Most users can use the simple mode, but power users can use advanced mode.
I'm in Canada, I'd probably be OK providing proof of residence - if Canada doesn't end up adopting those same rules anyway lol
Will be problematic to try to keep track of people now with the Internet. Man wants to chase down humans... Clearly Man is failing.
From things I'm reading, I wouldn't be surprised if Canada goes the same way as US also.
I mean yeah... you guys are doing great. Always makes me wonder if we will ever see you guys offer direct bank transfers, in and out of the blockchain.
Any side projects maybe you are working on at the moment? :)
We're working on direct bank transfers now, but it will take some time: there's both software and regulatory challenges to deal with.
We have a lot of side projects going on, but when they are our internal projects we usually stay quiet about them till they are nearly done, and if they are done for an external customer we generally leave public disclosure up to them, of course.
You do know what that would mean, right? Wow. I mean the whole Steem blockchain would have a smile from one ear to another. Ned would probably hug each and every one of you. That will be a huuuge day for Steem when it happens.
The easiest to access cryptocurrency for the general public with an easy way of fund transferring on and off the blockchain..
The implications of that are amazing... Anyways keep up the good work.
I'm very excited now. Can't wait for the future.
Awesome @blocktrades
XMR Monero is a SOLID ADDITION for us Steemians to choose swapping/trading between STEEM/SBD/BTC/ETH/LTC/DASH/DOGE/BCH
Thank You!
Edit: I just noticed no DASH to XMR or XMR to DASH drop downs?
I'll add it today, thx for pointing that out.
XMR is great but i wish u also had smaller anon coins - EXCL, ZCL etc
Quick trade within the paltform , exactly what we needed . Time to start building up
One of the good exchanger @blocktrades. It's easy and efficient and most of all it is partnered with my beloved blockchain #Steem. So far I have no bad experience using this exchanger and now #monero is now part of the family. Great works @blocktrades
This is great news. I love blocktrades
Nice to see Monero show up especially now that it has dropped a ton from its high . Would you be able to elaborate as to what the trading commission is . I was playing with the numbers and it seemed like different coins had different commissions. Am I correct or not? Also I noticed to trade 1 bitcoin to Steem is like 2500 to 1 when I try to do it backwards it change to 2800 Steem to 1 but coin that’s like a 900.00 commission . Is that standard ? Look forward to your reply as I have been dealing with you for 2 years . Can’t believe it has gone that fast!
The formula for the rates we offer is fairly complex: it's dependent not only on current prices but also liquidity volumes available along the buying paths open to us for replacing the coins we're selling, our available inventory, and even our long term view of the coin's potential.
To clarify the implications of the above description, if you want to buy or sell a lot of a coin (a lot here being defined as more than what's available around the immediate spread price on exchanges that offer the coins in question), then you'll likely pay more (because we will have to pay more if/when we replenish the coin we've sold). This also protects us from using a fake "low-liquidity" price that someone might try to spoof on one of our pricing sources. So if you got estimates for the same transactions as those you did above, but sending a smaller amount, you might get a better percentage price (on the other hand, it could be worse if you go too small, see next paragraph about transaction fees). One way to get a better rate from us is to place larger orders when the overall market is "hot" and has a lot of liquidity available (but high liquidity is often associated with price volatility, so that's the counterpoint to that view).
Another factor that comes into play is the transaction fee for sending the coin (we pass this cost on to the buyer). But this mostly has impacts on smaller transactions and is very coin-dependent. For example, if you bought $1 worth of btc, you might be paying more for us to send it than you would be receiving because of the cost for us to send it to you.
I think it is a good presentation, maybe I can get the application!!?
This is great news
That's very cool and all, but is it so complex to add new coins on the platform? Why make a news over adding one when you could add a whole bunch of those?
good news thanks
Fixed now, thanks
Blocktrades will always be number one 😎😎
Please consider adding EOS, BAT, IOTA, XLM
Great news for us ..Really BlockTrades is the awesome platform to provide best exchange rates to customers..
Blocktrades could become something big in future,if they reduce fees to reasonable amount. :)
Great news! Can’t wait to use it!
awesome work sir 😇😇
Good news thanks blocktrade.
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Guys. Your account sent me 440 SP in delegation. I did not buy that. Did someone else buy it for me?
Not sure whats happening.
Hi @blocktrades!
Your post was just upvoted by @utopian-io.
We are happy to see Blocktrades developing features with such impact on the Open Source Steem blockchain. It is our hope that you will choose to release Blocktrades code as opensource in the future, and will be glad to support you in such a move.
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Learn how to contribute on our website.
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Great
Good news. Thanks a lot. @blocktrades
wow new addition great, though monero is something new to learn but good that @blocktrades added new crypocurrency 👏👌👏👏👍👍👍
I just had an error sending a small amount of SBD for Monero. There is no output hash and it has been 30 minutes so I should have at least something showing as pending in my wallet. Would you please look into this issue?
Just to update. It just went through. Thank you!
Good news,
When monero is present in blocktrades. Then the opportunity for investment is getting wide open.
Hopefully one day, we can buy all goods by using coin with the help of application blocktrades.
Thank you very much @blocktrades
Yes it will happen. Since people want an easy way to exchange value. In this day an Age: Speed is King. 🚄
Yeah, hope that's happening quickly, and we can enjoy that convenience.
Anyone that looks closely at the current exchanges can see that it's a retarded overly complicated system. But at least it's a step forward compared to the complicated system Banks use for simple transactions. In this day and age every second we can save matters. We want a life that is frictionless and that flows much better. Clearly Blocktrades has helped lots with that. Since many of us value speed over minor fees.
You are right,
Thank you, your actions are amazing, it's bigger than upvote, because upvote forced us to wait 7 days, and within 7 days the price always change.
@blocktrades, you're really making things easier for us traders! Good going!!
About providing proof of residence, I already did that on some exchanges. It's not an issue at all.
Awesome, thanks for supporting Monero!
That makes it really simple now ;)
Yes,,,, well said,, BlockTrades is the great platform for the exchange rates and this time BlockTrades providing us highest rate.
Thanks for your informative post.
Great to share
Upvoted
Yes..... i love BlockTrades . Because the BlockTrades offering us big rates for currency. That's way , we are going to profitable.
"BlockTrades is now hot cake."
This is a brilliant idea i knew this will help a lot of the steemians. Thank you for sharing this @blocktrades. God bless
hi there!!!
with all market at this prices i think it is a good time to buy.
good luck!!!!
have a great day!!!
Took a while, but I'm glad to see Monero added finally. Blocktrades is a great exchange platform.
Well done! Never thought I would see the day.
There is now an easy way for steemit users to regain financial privacy by converting their SBD/STEEM to what is essentially the only fungible cryptocurrency.
This is a much bigger deal than most people realize, unfortunately it might take until people start getting investigated after receiving tainted BTC/insertnonfungiblecryptohere from some shady character and then trying to cash out at a centralized exchange, to viscerally understand why a public blockchain is a really bad idea.
Well, all that aside, a practical question: Are you supporting sub-addresses that were officially introduced with v0.12 ? They begin with 8 instead of 4.
If not, may I recommend focusing attention on adding them, as this further protects the users' privacy by allowing the user to generate a new sub-address for each conversion through blocktrades.
The sub-addresses cannot be linked together at the blockchain level, so I'm sure the advantage to this is very clear.
This development is somewhat bittersweet to me as I've cashed out of STEEM/SBD due to reasons not worth going into here, so there is no practical use left for me personally, but I still felt the need to login and congratulate @blocktrades on adding XMR, this is a step in the right direction. It absolutely is.
We need to take our privacy back, because no one else will do it for us.
So thank you for making that possible for thousands and thousands of steem users.
Really.
you gotta add tron bro!
hi @blocktrades,your service converts STEEM in GOLOS?
Thanks for sharing. I've smashed the upvote button for you and i will look into Blocktrades.
Also, if you are looking to get some tokens without investing or mining check out Crowdholding (https://www.crowdholding.com). They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.
it is a good platform for exchange digital currency with good support
I am really glad to see that marketplaces specialised for steem are in such great demand. Therefore, it is exactly the right step to expand the support for the customers, not only through the implementation of web-based request masks, but also with the protection of the privacy through the integration of Monero tradingpairs. Keep the great work up, sir!
Good news for us. Since we have you as our default trading platform. Keep updating
Will blocktrades develop like an exchange?
I am from Indonesia, currently CEO of Indodax Exchange with his team from Singapore has made a local coin named Tokenomi, is it possible to be added into the blocktrades?
Monero good sound its nice information for steemians should be buy if you are saying you know better the way its worth in future it have unique protocol than ok great work keep it up
Thank you for that good news
Sorry for going off topic here, but is there any way to contact you?
I do understand that you might be contacted by dozens of upvote beggars and whatever, but this is not like that. This is regarding a potential delegation, and I'd be glad to hear your thoughts about it.
Due to accounting and tax issues, I'm trying to stay out of the business of manual delegations in favor of our automated system for selling delegations. Upvoting is my preferred method for rewarding projects and endeavors I think are important to promote.
I see. Well, it never hurts to ask. Thank you very much for your reply!
Wow ya hacia falta que esta noticia llegara, increíble proyecto debieron hacerlo mucho antes, gracias por la informacion :D